Taxes have always been one of the most difficult things to handle regardless of whether you run an enterprise or not. Particularly if you don’t have a degree in finance or accounting. Tax-related issues aren’t easy, particularly when you’re filled with tasks to complete. In the event that you do not have the budget to employ an accountant, making it yourself can be dangerous. If you make a mistake it could mean you have to redo things again!
Most people want to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do about it?
We can always make life easier with tools such as TaxJar.
This article will take a look at this well-known life-saving tool and how it can benefit you. Even though this is lengthy but you’ll be able to gauge whether TaxJar is what you need today.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What exactly is TaxJar? Typical TaxJar Fees Per State
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It’s a solution for your entire sales tax life cycle. In addition, you can apply it in all of your channels of sales to make sure you’re in compliance with sales tax requirements. It simplifies the processes that require days to complete and finish within minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by online business owners to ensure that everything is simple and organized. Let’s look into the benefits and features of TaxJar.
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Services and features
Integration
One of the first things you’ll want to check is that your accounting tax platform is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to ensure that everything is in order. The last thing you want is to be penalized for missing a single minor point.
TaxJar allows you to display your critical metrics in one spot. So, there’s no need to collect data from different channels and sort it into a single platform. All you have to do is to integrate TaxJar then the system will take care of all the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms they can integrate with:
Filing
TaxJar lets customers submit their sales tax manually or through the AutoFile feature. For our review we’ll look at both.
If you choose to go it alone, TaxJar will allow you to connect your sales platforms. Once the time comes for the filing of income tax returns The team will guide you on how to manage them. But, it is up to you and your team members to complete everything within the timeframe. TaxJar is there to help you understand what you should do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. Through this feature, everything will be automated, from calculating taxes on sales through recording, and then processing it. There could be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting problems. Your orders from your e-commerce channels can be compiled into one dashboard using this platform. Once you’re on the platform, you and your team will have access to all the information you need, such as a list of your transactions, reports and information.
The most appealing aspect of this option is the fact that it allows you to update automatically every day. Not only can they help you know how much you’ve collected and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard can also allow you to fully view the total sales tax in your business. It is also possible to export your data as the form of a CSV file, if you want to use it to aid in accounting and financial planning processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the channels you sell through. It means you don’t need to scramble for your documents when you’re in the event of a need. Even even if you already have an accountant, this function can make them more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your money more efficiently. You’ll know better how much budget you have available for other operating costs.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just on their platform, but everything connected to sales tax. You can look through their guides, webinars, as well as their blog to find more information. In addition, their sales tax calculator should be beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. That’s why for this section, we’ll look into TaxJar’s pricing tiers and what each of these plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They claim that it’s the most effective plan for those who need assistance with filing requirements and reporting. It comes with sales tax reporting, four autofiles for free each year, and a CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a small-scale business owner, this plan could be perfect for you. It may not offer all the features of TaxJar but it comes with the basic features you require.
Additionally, you can contact their support team with their support chart for email. You’ll also have access to their integration capabilities.
Professional
If you’re looking for different from the basics and options, then the Professional plan may be the best option for you. It starts at $99, but you can increase it by adding custom features.
So how different is it from the basic plan?
In addition to having access to all of the Starter plan’s features, you also get access to the support of their customer service via phone access to APIs, as well as sophisticated CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you run a large business, you might need to choose the Premium plan instead. It includes all of the features that you require to help with your taxes. Moreover, they allow unlimited import integrations of data as well as Integrations with APIs, teams of members as well as AutoFiles.
They also have a staff who are devoted for managing the account. But, they don’t divulge the price of the Premium plan. costs you. Typical TaxJar Fees Per State
However, they did mention that the plan is custom-made for every user. The cost of the plan will be different depending on what you need to run your business.
Free Trial
Fortunately, you don’t need to risk your money to find out if the platform is the right one for you. If you’re still looking into different options, they offer 30 days of free trial. This should give you enough time to see whether the software is an excellent fit for you.
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Pros and Pros and
Now that we’ve covered all you need to be aware of TaxJar let’s take a break. In order to sum up the whole thing, here are the pros and cons of using TaxJar for your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms
- You can track several sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable for USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes numerous platforms. If that sounds like what you do, then you should try this.
Not only will it aid in tracking the sales and profits of your business, but it can assist you in meeting the deadlines you set. It is also a great opportunity for accountants since they offer the Tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
Using TaxJar will help you save more time while keeping track of every deadline and requirement you have to fulfill. If you’re in a region with a lot of tax laws, this can surely help you wrap your mind around it. Typical TaxJar Fees Per State
But if handling your taxes is simple, then TaxJar could be a waste of investment. If you only have one or two channels of sales, TaxJar won’t be needed to track all of it. Moreover, if you find the entire procedure easy to complete then you’re better to do it on your own.
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FAQ Typical TaxJar Fees Per State
What areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions are in USdollars. If you’re using a different currency, you’ll have to convert it to US$ prior to when TaxJar can calculate your tax.
